hnstabe, I really can't clarify the exact deferred revenue tally including how taking a part of current upgrades billings as revenue affects it going forward, if at all. What we do know is that they only take 25% of current upgrades billings as revenue and push the remaining 75% out over the next three quarters. As long as upgrades billings continue to increase q on q, the current q billings will continue to exceed upgrades revenue taken including that which is amortized from previous q's, in effect perpetuating the situation where revenue taken understates billings or cash flow.
If one thinks about it one realizes upgrades revenue taken will equal current upgrades billings only when the preceeding 3 q's average upgrades billings equals the current q's upgrades billings. Hopefully that won't become the case for a long, long time! Get it? In other words upgrades billings will grow exponentially each q for a long time to come and will thus remain signifcantly larger than the average of the 3 preceding q's. In theory that could/should happen given the volume and scope of Wave-bundled TPM software being shipped (enterprises will start using their Wave-enabled TPMs) as well as the ramping adoption of SEDs.
Market Data 
Markets 
AI
